Bank of America Co. (NYSE:BAC) Stock Holdings Lowered by Central Valley Advisors LLC

Central Valley Advisors LLC lessened its position in Bank of America Co. (NYSE:BAC) by 8.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 27,220 shares of the financial services provider’s stock after selling 2,604 shares during the period. Central Valley Advisors LLC’s holdings in Bank of America were worth $1,196,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Kennebec Savings Bank acquired a new stake in shares of Bank of America in the third quarter valued at approximately $29,000. Highline Wealth Partners LLC increased its position in Bank of America by 152.7% in the 4th quarter. Highline Wealth Partners LLC now owns 844 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 510 shares during the period. Christopher J. Hasenberg Inc raised its stake in Bank of America by 525.9% during the 3rd quarter. Christopher J. Hasenberg Inc now owns 1,014 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 852 shares in the last quarter. Northwest Investment Counselors LLC acquired a new position in Bank of America during the 3rd quarter worth $45,000. Finally, Truvestments Capital LLC bought a new position in shares of Bank of America in the third quarter worth $73,000. 70.71% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BAC has been the subject of several research analyst reports. Citigroup raised shares of Bank of America from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $46.00 to $54.00 in a report on Friday, November 8th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $46.00 price target on shares of Bank of America in a research note on Wednesday, October 9th. StockNews.com upgraded shares of Bank of America from a “sell” rating to a “hold” rating in a report on Wednesday, October 16th. Barclays upped their target price on Bank of America from $53.00 to $58.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Finally, HSBC upgraded Bank of America from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $48.18.

Bank of America Stock Down 1.0 %

BAC stock opened at $46.65 on Friday. The company’s 50 day simple moving average is $45.72 and its 200-day simple moving average is $42.34. Bank of America Co. has a 52-week low of $31.27 and a 52-week high of $48.08. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.80 and a quick ratio of 0.80. The firm has a market capitalization of $357.91 billion, a P/E ratio of 16.96, a P/E/G ratio of 1.23 and a beta of 1.33.

Bank of America (NYSE:BAC) last announced its earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.05. The company had revenue of $25.30 billion for the quarter, compared to the consensus estimate of $25.12 billion. Bank of America had a net margin of 12.48% and a return on equity of 10.09%. The company’s revenue was up 15.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.70 EPS. As a group, equities research analysts anticipate that Bank of America Co. will post 3.24 EPS for the current year.

Bank of America Profile

Bank of America Corporation, through its subsidiaries, provides banking and financial products and services for individual consumers, small and middle-market businesses, institutional investors, large corporations, and governments worldwide. It operates in four segments: Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, and Global Markets.